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EU avails €85m funding to Comesa

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Friday, 04 March 2016

EU avails €85m funding to Comesa

The Common Market for Eastern and Southern Africa is expected to receive €85 million from the European Union under the 11th European Development Fund Regional Indicative programme for the EA­SA­IO region signed last year. The funding is part of an overall kitty of €1,3 billion provided by the EU where out of the total funding, €600 million will be used for blending and leveraging of funds to enable implementation of regional infrastructure projects. A total of €205 million will be used for selected cross regional actions and €450 million are for the specific envelopes of Comesa, EAC, IGAD, IOC and Sadc. Under the funding agreement, the EU yesterday signed a €4,485 million Technical Cooperation Facility to support implementation of regional integration programmes in the Eastern Africa, Southern Africa, and India Ocean region. The recent funding agreement was signed by Head of the European Delegation to Zambia and Special representative to Comesa Ambassador Alessandro Mariani and Comesa Secretary General Sindiso Ngwenya. Secretary General Sindiso Ngwenya appreciated the European Union’s continued support to the economic integration of the EA­SA­IO region and in particular the Comesa sub­region. “It is not an understatement that without the support of the EU the achievements made by Comesa in regional integration would have been less than optimal,”

Source: The Herald